An article was sold at a profit of 20%. If the cost price would be 10%

1.	An article was sold at a profit of 20%. If the cost price would be 10% less and selling price would be Rs. 24 more, there would be profit of 40%. Then to gain 60% at what price it should be sold?1. 4002. 2403. 6404. 460
Answer» Correct Answer - Option 3 : 640 Given: An article was sold at a profit of 20%. If the cost price would be 10% less and selling price would be Rs. 24 more, there would be profit of 40%. Formula Used: Profit% = Profit/CP × 100 Loss% = Loss/CP × 100 Reduced CP × profit% = New SP Calculation: Let the cost price of article = 100x SP of article = 120/100 × 100x = 120x From the question we get, 9/10 × 100x × 140/100 = 120x + 24 ⇒ 126x = 120x + 24 ⇒ x = 4 Original CP = 100x = 100 × 4 = Rs. 400 To gain 60%, SP = Rs. (160/100 × 400) = Rs. 640 ∴ It should be sold at Rs. 640

An article was sold at a profit of 20%. If the cost price would be 10% less and selling price would be Rs. 24 more, there would be profit of 40%. Then to gain 60% at what price it should be sold?1. 4002. 2403. 6404. 460

Answer» Correct Answer - Option 3 : 640

Given:

An article was sold at a profit of 20%.

If the cost price would be 10% less and selling price would be Rs. 24 more, there would be profit of 40%.

Formula Used:

Profit% = Profit/CP × 100

Loss% = Loss/CP × 100

Reduced CP × profit% = New SP

Calculation:

Let the cost price of article = 100x

SP of article = 120/100 × 100x = 120x

From the question we get,

9/10 × 100x × 140/100 = 120x + 24

⇒ 126x = 120x + 24

⇒ x = 4

Original CP = 100x = 100 × 4 = Rs. 400

To gain 60%,

SP = Rs. (160/100 × 400) = Rs. 640

∴ It should be sold at Rs. 640

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